Dubai-China FinTech agreement brings new opportunities for Dubai International Financial Centre

Dubai-China FinTech agreement brings new opportunities for Dubai International Financial Centre

Dubai-China FinTech agreement brings new opportunities for Dubai International Financial Centre

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region and home to the largest, most developed FinTech ecosystem in the region, has signed a Memorandum of Understanding (MOU) with Jiaozi Fintech Dreamworks, one of China's first Fintech innovation and entrepreneurship platforms.

The MOU will enable the DIFC to further support the UAE in facilitating the 'Belt and Road' economic initiative and forms a central part of the Centre's 2024 strategy to strengthen relationships with the international financial community and increase access to the South-South corridor.

Based in Chengdu, capital of Sichuan Province and one of China's emerging international financial centres. Chengdu has an important reputation in the world of finance having reportedly been the first place in the world to introduce paper bank notes. They now share a vision with DIFC to drive the future of finance by developing the next generation of tools for use in the industry.

Jiaozi Fintech Dreamworks was launched in 2016 under the guidelines of the People's Bank of China, the country's central bank and the local finance bureau. Fintech Dreamworks is on track to become home to over 300